Market Update Hello Smart Option Sellers! Happy Friday! Nothing too eventful happening this week for us at The Smart Option Seller. I talked a little bit about our positions earlier on Tuesday, especially the ones that are slightly underwater at the moment. This is because those stocks (T, GSK & MRK) are still extremely oversold. I'm hoping that most of the selling exhaustion has relieved itself and we can look towards flat-to-rising moves in those stocks over the coming weeks. This will help push the values of the put options back down, which will move us towards profitability. I'm still quite amazed at the longevity of the bullish move in the markets. Although it's fruitless to try to time the market by picking tops & bottoms, we really haven't had any kind of meaningful pull-back in quite some time. And by that, I mean a 5%-10% correction. One of the reasons for the recent continual march higher? No need to look any further than the really great earnings reports that came out over the last week by some of the biggies - Apple (AAPL), Google (GOOGL), Facebook (FB), Netflix (NFLX) & Amazon (AMZN) to name a few. Those names all make up the FAANG stocks that have really been powering the markets higher, especially the NASDAQ. I wonder if anyone took my "unofficial" advice and sold puts on Apple (and JNJ) that I mentioned in the October 5th alert. Both have been profitable to date. Anyway, let's keep riding the bull train until it stops. The trend is your friend! Continue to hold all positions as-is. If you are new to The Smart Option Seller, make sure to check the Current Portfolio, as some of our plays are still viable to enter. Bitcoin I know I keep bringing it up, but it's because many of you keep asking about it. We've really touched a nerve here with bitcoin. Every time I write about it, it keeps going up in value. It just hit another all-time high today near $7,450. Just last Friday it was $5,700. The best thing about bitcoin - is that it's in such an infancy stage right now, that none of us probably have any idea how much higher it's capable of going. When it hits mainstream population (which it will), you will be in total disbelief of the price. I've read that we can compare the price of bitcoin now to where Amazon was in 1997, where the internet was in 1995, and where cell phones were in 2002 - all at the beginning before everyone jumped onboard. Sure it will take a few years (maybe five), but by then, it will be too late. I know it's hard to think about buying something that costs $7,000 today, but think how you'll feel when it's at $50,000. You will literally kick yourself. I don't mean to rile everyone up, and in full disclosure, I own some bitcoin myself. Not a lot. But I feel strongly enough about it to allocate speculative money to it. This is not a recommendation on my part to you. I'm just telling you what I'm doing with some of my own money. But I plan to keep buying. Once again, if you want to grab a stake, you can sign up at Coinbase.com Use this referral link to get started. If you do, we both will receive $10 worth of free bitcoin after you've bought your first $100 worth. Some of you have also asked me how to actually buy or sell bitcoin within the Coinbase account. It's very easy. But first, let me say, if you do open an account, make sure you use a very long & intricate password. And sign up for the "Two-Factor Authentication". This is just another layer of protection for your account. It will send you a 6-digit code to your phone to use for logging in purposes in addition to you typing in your password. Once you've opened your account, you will need to either link a credit card or a bank account to fund it. This is the only way to get started. A credit card will allow you to buy instantly, typically the same day, but a bank account takes a few days to get the authorization. You can do either, or both. Once your funding is set up, the buying part is very easy. Click on the "Buy/Sell" tab at the top of the page, choose the bitcoin tab, and enter either a dollar amount you want to spend, or a fraction amount of bitcoin you want to buy. There is no need to buy a full bitcoin (which would cost you over $7,000). You can buy any dollar amount of bitcoin you choose, which will get you a fraction of a bitcoin. It's genius, and it allows you to scale in over time. For instance, if you wanted to spend $100 to buy bitcoin, you would type $100 into the box and it will load up your future purchase for you to verify. As of the time of this writing, $100 would buy you .0131 of a bitcoin at a price of $7,325.45 per coin. A small commission gets taken out on each transaction. Click here to see a screenshot from my account. I've set up a sample $100 purchase and blocked out my bank information. Maybe I'll make a short video on how to do this, if you think it will help. At Coinbase, you can buy three different kinds of cryptocurrencies - Bitcoin, Ethereum & Litecoin. I own some of each, but mostly bitcoin. Buying any of those uses the same methodology. The process is simple once you get started. I know it can be a daunting and scary thing to try something new. I get it. We all have to start somewhere. Believe me, I was totally clueless. But you learn. Anyway, that's all I have for you today. Don't forget to check my Blog. Continue to send me your questions here Have a great weekend! Regards, Lee Let's Grab That Cash!
Current Portfolio Continue to work all other trades as instructed and continue to hold all other open positions as-is. See the Current Portfolio below for current prices & instructions. Note on the Current Portfolio - if you are a new subscriber and don't have a position yet on any of our trades, make sure you enter your order at the original recommended sell prices. Do no enter any order unless the current option price is at, or higher, than the official recommendation. If you are unsure or have any questions, please ask us!